Trading knowledge is not king. Itâs what you do with the knowledge that makes you king. Then thereâs attitude. I love it when Iâm wrong and realize it. Then I got a chance to succeed. If you canât change the facts then bend the attitudes.
What I've learned from the futures market is.. You can have the best system out there, you can have something that works 85% of the time, BUT if you don't understand how to trade that system correctly in the heat of the moment and don't have the right mindset, you will fail. It takes hundreds upon thousands of hours of practice to be able to get this. Many new people 'think' they have the right attitude. But it is not something you just 'have' its something you need to acquire
Not picking on you, YOUR EXCELLENCY, but you do bring up a good point which is directly in line withHERD thinking. One guy in the thread was ready to blow you on the spot, others are still playing with themselves, contemplating making a pass at you. At ET its very easy to score high marks - all one has to do is to pronounce some HERD aphorism - the best one at ET thus far is, "Barack Obama is a rotter" - you get an instant approval from ET and if in the Politics Forum, there will be nudity and you will get laid repeatedly. So let me give you the facts of life .... (1) Study hard, work hard, hard, hard and you will succeed. Now add another 5-10 or more similar points that Ma, Pa, the Principle, the Dean and others in authority have told us, literally etching it into our brain. --------------------------------- I've got a whack on the head with a saucepan for the truebelievers ..... Its all total bullshit. You follow that route and you are guaranteed to end up as a HERD member, a robot who thinks he knows but only has power when acting in or within a group - alone he fritters and withers away rapidly. ------------------------------------
So what then is the way? Its no secret at all - the successful ones know it well and laugh when HERD member assholes talk about esoteric stuff like hard work bla bla bla An Edge is all it takes. EDGE dispenses with the liability of hard work, reams of knowledge bla bla bla. EDGE even dispenses with the liability of WHO you know aka contacts. EDGE is so powerful that sooner or later it attracts the types of individuals that further sharpen and scintillate and titillate the EDGE, thus making the EDGE go parabolic. --------------------- Now are you ready for the ultimate truth about EDGE? Count the # of threads at ET about EDGE deadbroke's assessment ..... Not a single mother's son knows what EDGE is
For your enjoyment and entertainment on EDGE may I present this thread by yours truly when I was a newbie at ET. I was applying an EDGE in real life but had no clue as to what an EDGE really meant. If you read it carefully you will start to grasp what an EDGE is - remember that the thread was Kindergarten on the subject of EDGE but the groundwork was there for allowing one to truly grasp the depth of concept that delivers an EDGE http://www.elitetrader.com/vb/showthread.php?s=&threadid=182591&highlight=Fatal+Flaws
If you read Market Wizards, you know that Paul Tudor Jones and Bruce Kovner had trained a number of traders. Kovner says only 4 or 5 out of the 30 turned out to be good. That's a 15% success rate. You can be sure their hiring standards are rigorous, as they can pick the cream of the crop. So, that's a 15% success rate out of their top recruits. The success rate for "average people" is probably lower.
LOL I have to go in the barn for my daily milking now. Deadbroke, tell us. what other secrets have you been hiding your whole life ? You can tell us we'll still love you the same. EDGE I don't like that word. It sounds like a rockstation and is misinterpreted left and right. Wasn't it originally used as a word in the pits to explain their advantage on the bis/ask?
Are you kidding me, Z? Check out the number of threads on EDGE? You got that right, re: misinterpretation. Here are some other secrets that I discovered between age 25 and age 39 - I retired at age 39, in case you didn't know, Z. I'm back home stateside for an extended visit and guess what, I'm selling again and its bringing more youth back and I'm still as sharp as ever, an outstanding closer, my true vocation in life. The retired life was mellifluous but pulling off a comeback is sweeter indeed.
(1) Rent pussy always, never buy - they are so inexpensive when you rent, akin to one bus leaves, another shows up almost immediately. The only rule I follow when I'm with ONE is to not beat her and not cheat on her while with her and she will do anything for me - when its time to leave, I'm the one who announces it. There are consequences, but I make a clean getaway 95% of the time. (2) Make the bulk of your money before age 40 and then escape from America asap - find a nice 3rd world country of your choice that suits you and settle down there and pay cash for everything you buy. Drop CREDIT like a hot potato. (3) When anyone asks you for money (to lend them) point them to the nearest bank - if they insist, tell them you will drop them off your list of friends or acquaintances in 10 seconds flat. (4) Live simply but with taste and decorum - lavish and expensive for the sake of it is stupid - if your neighbors drive Mercs and BMWs, fck them in the ass by getting a 1978 Porsche Turbo with a straight pipe and leave them in the dust when you pass them on the highway into town - that'll fck them up real good. (5) Tell the relatives to go fck themselves - they're a pain in the ass, always broke and always problems with the kids even grown up kids in their 30s. (6) Don't have kids - the moment you do, its nail #2 in the coffin, if you have more, then by the 4th nail you're done for. If you're unfortunate to have one or some, shoot them or sell them. (7) If your wife has a fat ass and is getting fatter, dump the bitch and get a better one. All I see all over the place in america are some huge fat ass bitches with husbands that have the look of, "fck it, kill me now, somebody" (8) Life is a game and the more serious you take it, the greater your chances of losing - this fits right i with the concept of EDGE - a key underlying concept of EDGE is laughter at how simple the whole game you are playing really is, be it trading or anything else. There are more but I'll place the most important one her and just call in #20 (20) Never compromise with your own reality - keep your own counsel and be your own advisor.